RPP 3-5 RPP 3-5 Supervision of Auditors
DFSAexpects to undertake periodic visits of Auditorsas part of its risk based approach to supervising firms. The DFSAmay include Auditorsin some thematic visits.
DFSAis likely to request an annual information report from all Auditors. The information report will request details such as:(a) outcome of a fit and proper assessment undertaken by the Auditor;(b) any professional indemnity insurance obtained by the Auditor;(c) names of the Authorised Firmsaudited;(d) continuing professional development undertaken by relevant employees of the Auditor;(e) any other activities undertaken by the Auditor; and(f) complaints received by the Auditor.
DFSAis likely to undertake a desk based review of the content of the annual information report it receives from an Auditor. Prior to scheduling an onsite visit, the DFSAis likely to make a request for further information from the Auditor.
The onsite visit is likely to include interviews with senior management and a review of files/documentation.Derived from DFSA GM8/2011 (Made 28th April 2011). [VER 1/02-11]